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PM: Belarus needs structural changes to meet $100bn GDP target

Economy 05.11.2019 | 17:18

MINSK, 5 November (BelTA) - Structural changes are needed to achieve the target of $100 billion in GDP, Belarusian Prime Minister Sergei Rumas said at the preliminary reading of the budget in the House of Representatives, BelTA has learned.

“The head of state has set the target to reach the GDP of $100 billion by the end of the next five-year period. I have to admit that the government is not working well on this task today," said Sergei Rumas.

According to him, despite all efforts, the economy is growing slower than needed. The prime minister believes that the criticism of the government on this issue is fair.

Sergei Rumas noted that various scenarios have been drawn up on ways to meet this target, even taking into account the results of 2019 which are not very good.

“Today it is obvious that the economy, given its current state, the traditional economy, is not able to generate such volume of GDP. Apparently, in the next five years we will need to work very hard to promote structural changes, to set up new sectors of the economy, new manufactures, which will allow us to achieve this goal,” the head of government noted.

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